If you have the top 1,000 passwords by popularity, you are close to 91% of the “changed” passwords you will encounter. (That link leads to the top 10,000 passwords if you are looking for completeness.)

You could argue that improving the security of the Internet of Things by 9 percentage points (maybe) isn’t nothing.

True but it is so nearly nothing as to not be worth the effort.

PS: There are solutions to the IoT password issue but someone needs to pay money to spark that discussion.